James Allen News Center

Billy Baldwin and Chynna Phillips have been married for 15 years. In Hollywood terms, that`s nearly 10,000 years. Well, things almost came to a halt last week when Chynna filed divorce papers. Thankfully, within days she changed her mind and withdrew the filing.

Balwin – who is in the middle of filming `Gossip Girl` – was allegedly shocked on February 26, when his wife filed for divorce in Santa Barbara, California.

A source told the New York Post that Chynna changed her mind over the weekend: "Chynna has gone under a lot of personal and professional stress. The divorce petition came after a long and emotional buildup. But once it was filed, she realized she didn't want to lose Billy and asked her lawyers to withdraw it."

Lizzie Grubman, the couple's manager, told the Post that "every married couple has its up and downs, but they are two people who have been together for 18 years and are deeply in love. They will work through their personal issues and they are committed to staying together."

In recent months, Phillips has undergone treatment for anxiety. Discussing her anxiety with PEOPLE, Chynna said she "felt like all my plates were in the air and at any moment one would come crashing down . . . [I was afraid] I'd lose my footing and collapse into a puddle of tears."

The couple has three children together - daughters Jameson and Brooke, and son Vance. They exchanged wedding rings in 1995.